SPY4.DE vs. QDVC.DE
SPY4.DE (SPDR S&P 400 US Mid Cap UCITS ETF) and QDVC.DE (iShares Edge MSCI USA Size Factor UCITS ETF) are both Mid Cap Blend Equities funds - SPY4.DE tracks the S&P MidCap 400 while QDVC.DE tracks the MSCI USA Mid-Cap Equal Weighted. Both are passively managed. Over the past 5 years, SPY4.DE returned 8.81%/yr vs 7.32%/yr for QDVC.DE. With a 0.96 correlation, they move nearly in lockstep. SPY4.DE charges 0.30%/yr vs 0.20%/yr for QDVC.DE.
Performance
SPY4.DE vs. QDVC.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPY4.DE achieves a 14.09% return, which is significantly higher than QDVC.DE's 8.40% return.
SPY4.DE
- 1D
- 0.26%
- 1M
- 2.42%
- YTD
- 14.09%
- 6M
- 13.87%
- 1Y
- 23.49%
- 3Y*
- 12.93%
- 5Y*
- 8.81%
- 10Y*
- 10.43%
QDVC.DE
- 1D
- 0.46%
- 1M
- 3.34%
- YTD
- 8.40%
- 6M
- 8.04%
- 1Y
- 14.95%
- 3Y*
- 11.54%
- 5Y*
- 7.32%
- 10Y*
- —
SPY4.DE vs. QDVC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPY4.DE SPDR S&P 400 US Mid Cap UCITS ETF | 14.09% | -3.63% | 18.67% | 13.23% | -8.82% | 35.58% | 2.35% | 29.19% | -8.75% | 1.67% |
QDVC.DE iShares Edge MSCI USA Size Factor UCITS ETF | 8.40% | -3.21% | 19.27% | 13.21% | -13.60% | 37.66% | 6.30% | 31.46% | -6.82% | 4.09% |
Correlation
The correlation between SPY4.DE and QDVC.DE is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2016 | 0.96 |
The correlation between SPY4.DE and QDVC.DE has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
SPY4.DE vs. QDVC.DE — Risk / Return Rank
SPY4.DE
QDVC.DE
SPY4.DE vs. QDVC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 400 US Mid Cap UCITS ETF (SPY4.DE) and iShares Edge MSCI USA Size Factor UCITS ETF (QDVC.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| SPY4.DE | QDVC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.21 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 1.91 | +1.88 |
| Martin ratioReturn relative to average drawdown | 11.31 | 5.80 | +5.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPY4.DE | QDVC.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 1.19 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.43 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.54 | +0.11 |
Drawdowns
SPY4.DE vs. QDVC.DE - Drawdown Comparison
The maximum SPY4.DE drawdown since its inception was -42.72%, roughly equal to the maximum QDVC.DE drawdown of -40.76%. Use the drawdown chart below to compare losses from any high point for SPY4.DE and QDVC.DE.
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Drawdown Indicators
| SPY4.DE | QDVC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.72% | -40.76% | -1.96% |
Max Drawdown (1Y)Largest decline over 1 year | -6.07% | -7.70% | +1.63% |
Max Drawdown (3Y)Largest decline over 3 years | -29.11% | -25.54% | -3.57% |
Max Drawdown (5Y)Largest decline over 5 years | -29.11% | -25.54% | -3.57% |
Max Drawdown (10Y)Largest decline over 10 years | -42.72% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.48% | +1.48% |
Average DrawdownAverage peak-to-trough decline | -5.87% | -6.58% | +0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 2.54% | -0.51% |
Volatility
SPY4.DE vs. QDVC.DE - Volatility Comparison
SPDR S&P 400 US Mid Cap UCITS ETF (SPY4.DE) has a higher volatility of 3.51% compared to iShares Edge MSCI USA Size Factor UCITS ETF (QDVC.DE) at 2.89%. This indicates that SPY4.DE's price experiences larger fluctuations and is considered to be riskier than QDVC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPY4.DE | QDVC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.51% | 2.89% | +0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 9.83% | 8.09% | +1.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.65% | 12.31% | +2.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.33% | 16.87% | +1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.50% | 18.28% | +1.22% |
SPY4.DE vs. QDVC.DE - Expense Ratio Comparison
SPY4.DE has a 0.30% expense ratio, which is higher than QDVC.DE's 0.20% expense ratio.
Dividends
SPY4.DE vs. QDVC.DE - Dividend Comparison
Neither SPY4.DE nor QDVC.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, SPY4.DE and QDVC.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, QDVC.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QDVC.DE is cheaper with a 0.20% expense ratio, compared with 0.30% for SPY4.DE.
SPY4.DE tracks S&P MidCap 400, while QDVC.DE tracks MSCI USA Mid-Cap Equal Weighted. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for SPY4.DE and 0.20% for QDVC.DE.
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